Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents (includes VIE balances of $5.7 and $4.4) $ 22.9 $ 14.8
Accounts receivable, net (net of allowances for credit losses of $14.6 and $2.7) (includes VIE balances of $19.0 and $17.3) 266.8 312.7
Accounts receivable - related party, net 19.9 16.1
Inventories (includes VIE balances of $10.6 and $12.9) 151.3 201.1
Prepaid expenses and other current assets (includes VIE balances of $0.9 and $0.9) 22.6 29.4
Total current assets 483.5 574.1
Property, plant, and equipment (net of accumulated depreciation of $1,582.2 and $1,312.4) (includes VIE net balances of $29.6 and $16.7) 1,464.3 1,761.2
Operating lease right-of-use assets, net 154.3 158.6
Goodwill 290.2 302.0
Intangible assets, net 111.8 148.9
Deferred tax assets (includes VIE balances of $29.0 and $0.0) 29.0 0.0
Other assets (includes VIE balances of $1.0 and $1.0) 40.0 43.3
Total assets 2,573.1 2,988.1
Current liabilities:    
Accounts payable (includes VIE balances of $48.0 and $37.4) 257.1 324.3
Accounts payable - related party 42.2 18.1
Accrued expenses (includes VIE balances of $8.5 and $6.0) 74.0 67.2
Current portion of long-term debt (includes VIE balances of $3.5 and $4.8) 144.7 159.6
Current portion of long-term debt- related party 5.0 5.0
Current portion of operating lease liabilities (includes VIE balances of $1.3 and $1.5) 44.8 26.0
Other current liabilities 28.8 56.6
Other current liabilities - related party 0.8 3.2
Total current liabilities 597.4 660.0
Long-term debt 832.7 936.1
Long-term debt - related party (includes VIE balances of $39.6 and $0) 42.9 8.3
Operating lease liabilities (includes VIE balances of $5.6 and $6.5) 115.5 137.1
Deferred tax liabilities 11.8 14.9
Tax receivable agreement liability 82.0 82.9
Other liabilities 10.1 9.2
Total liabilities 1,692.4 1,848.5
Commitments and contingencies (Note 14)
Mezzanine equity:    
Series A redeemable convertible preferred stock, $0.01 par value, 50 thousand shares authorized, issued and outstanding 68.8 63.5
Stockholders' equity:    
Preferred stock, $0.01 par value, 50.0 shares authorized, no shares issued and outstanding
Additional paid-in capital 1,325.9 1,241.2
Accumulated deficit (610.2) (235.9)
Accumulated other comprehensive income 0.0 0.1
Total stockholders' equity attributable to ProFrac Holding Corp. 717.5 1,006.9
Noncontrolling interests 94.4 69.2
Total stockholders' equity 811.9 1,076.1
Total liabilities, mezzanine equity, and stockholders' equity 2,573.1 2,988.1
Common Class A    
Stockholders' equity:    
Common stock, value 1.8 1.5
Common Class B    
Stockholders' equity:    
Common stock, value $ 0.0 $ 0.0